what is the swift code

A SWIFT code, also known as a BIC number, is a standard format for Business Identifier Codes (BIC) . It is used to identify banks and financial institutions globally and is a unique identifier for business institutions. The SWIFT code identifies the branch, bank, and country an account is registered in and communicates the who, what, and where of international transfers between banks and financial institutions. The SWIFT code is sometimes called a Bank Identifier Code (BIC), SWIFT-BIC, SWIFT ID, or SWIFT code, after the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which is designated by ISO as the BIC registration authority. These codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks. The SWIFT/BIC code is an 8-11 character code that identifies the country, bank, and branch.